Guideline Value for Vinayaga Nagar 8th Street

Vinayaga Nagar 8th Street guideline value

The current guideline value of Vinayaga Nagar 8th Street is Rs 1,870 per sq.ft, effective from 1 July 2024. This street is located in Anakaputhur village, under the Pammal SRO, and is classified as Residential Class I Type - II.

How the guideline value of Vinayaga Nagar 8th Street has changed

The guideline value for Vinayaga Nagar 8th Street has seen several revisions over the years. The 2017 revision recorded a value of Rs 1,139 per sq.ft, which increased to Rs 1,700 per sq.ft in the 2023 revision. The latest revision in 2024 has further raised the value to Rs 1,870 per sq.ft, marking a 10% increase from the previous year and a significant 64% increase from 2017.

It is important to note that there are no figures available for this street in the revisions of 2002, 2003, 2007, and 2012. The changes between the revisions indicate a substantial rise in the guideline value over the years, particularly from 2017 to 2024.

Guideline values in Anakaputhur

In Anakaputhur, there are 501 streets under the Pammal SRO, with guideline values ranging from Rs 1,320 to Rs 4,640 per sq.ft as of 2024. The median guideline value for these streets is Rs 1,980 per sq.ft, placing the 2024 figure for Vinayaga Nagar 8th Street below this median.

• Vinayaga Nagar 7th Street: Rs 1,870 per sq.ft (2024)
• Vinayaga Nagar 8th Street 1st Street: Rs 1,870 per sq.ft (2024)
• Vinayaga Nagar 6th Street: Rs 1,870 per sq.ft (2024)
• Vinayaga Nagar 8th Street 2nd Street: Rs 1,870 per sq.ft (2024)
• Vinayaga Nagar 5th Street: Rs 1,870 per sq.ft (2024)
• Vinayaga Nagar 8th Street 3rd Street: Rs 1,870 per sq.ft (2024)

Stamp duty and registration fee for property in Vinayaga Nagar 8th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,870 per sq.ft, the total guideline value would be Rs 18,70,000. The stamp duty at 7% would amount to Rs 1,30,900, and the registration fee at 2% would be Rs 37,400, bringing the total cost to Rs 1,68,300. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vinayaga Nagar 8th Street?

The Sub Registrar Office that covers Vinayaga Nagar 8th Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Anakaputhur

The guideline value is a crucial factor during the registration of property transactions in Anakaputhur. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when a property is bought or sold.

When a buyer and seller agree on a sale price, the registration office will assess the guideline value to ensure that the correct fees are applied. This means that the higher value between the guideline value and the sale price will be used for calculating the applicable duties and fees.

Frequently asked questions

What is the current guideline value of Vinayaga Nagar 8th Street?

The current guideline value of Vinayaga Nagar 8th Street is Rs 1,870 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,139 per sq.ft in 2017 to Rs 1,870 per sq.ft in 2024, reflecting a total increase of 64% over this period.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2%. For a property valued at Rs 18,70,000, the total fees would be Rs 1,68,300.

Which office handles the registration for Vinayaga Nagar 8th Street?

The Pammal Sub Registrar Office handles the registration for Vinayaga Nagar 8th Street, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What is the land classification for Vinayaga Nagar 8th Street?

Vinayaga Nagar 8th Street is classified as Residential Class I Type - II, indicating its designation for residential use.